One of my basic requirements in selecting a trade is liquidity -- lots of shares traded -- and liquidity tends to dry up during holiday weeks. Also, I think of a stock's price as being somewhat akin to a public opinion poll. I want a representative sample of buyers and sellers setting the price through their trades. Holiday week trading is less representative than regular business weeks.
So, I won't be opening new positions today and next week. I shall post regarding my holdings and the indicators, plus the occasional word of great wisdom.
To work....
Holdings:
- GLD remains in bear mode, although the mfi has flattened in overbought territory. The price bar for the day remains below the upper bb channel.
- UNG showed a rise today to 9.03, above the $9 strike price of our covered call. The pps/mfi signal remain in bull mode.
- Bear mode: SPY (blue chips), TLT (Treasury long bonds), VIX (fear index, bullish for stocks), EUR/USD (Dollars per Euro)
- Bull mode: GLD (gold), USD/JPY (Yen per Dollar)
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